Vietnam Business News

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• Gold prices set fresh record: VND41.55 mln
• Vietnam’s gold prices skyrocket along with global trend
• Gold not to retreat below vnd40 mil per tael, say experts
• Vegetable shortage raises prices in Hanoi
• Price subsidies help increase dairy profits
• Australia places priority on economic ties with Vietnam
• Jan-Jul seafood exports up almost 25%, exceed $3 bln
• Foreign investors more cautious about property market
• Discount rates may force funds to divest
• SSC proposes to delay soes’ capital withdrawal plans

Gold prices set fresh record: VND41.55 mln Posted: 06 Aug 2011 01:35 AM PDT Domestic gold price as of 4:30 pm set a fresh all-time record at VND41.55 million a tael after its world counterpart skyrocketed to $1,667 an ounce. It has marked a continuous upward trend for 2 consecutive days even when its international peer remained stable for a while. The price surged VND300,000 a tael to VND41.4 [...]

Vietnam’s gold prices skyrocket along with global trend Posted: 06 Aug 2011 01:33 AM PDT Vietnam’s average gold prices closed at 41.44 million Vietnamese dong (VND) (2,014 U.S. dollars) a tael, equivalent to 1.2 ounce on Friday, posting the ever highest record and an increase of 50,000 VND (2.43 U.S. dollars) a tael against the previous trading session. In the capital city Hanoi, the Bao tin Minh Chau gold trading [...]

Gold not to retreat below vnd40 mil per tael, say experts Posted: 05 Aug 2011 05:00 PM PDT Domestic gold prices remain on a rising trend on Thursday, following a gaining streak in world prices. The increase shows no sign of retreating as investors do not cash in on the current move of the precious metal, financial experts say. At local gold shops, the precious metal traded at a fresh record high of [...]

Vegetable shortage raises prices in Hanoi Posted: 05 Aug 2011 09:57 AM PDT Bad weather conditions coupled with heavy infestation of pests in vegetables has caused prices to rise as well as create a supply deficit in markets in Hanoi, as per the Department of Industry and Trade. The recent two very severe storms in the Northern Provinces caused heavy flooding in many parts, especially in the fertile [...]

Price subsidies help increase dairy profits Posted: 05 Aug 2011 09:56 AM PDT Two Vietnamese dairy companies, Vinamilk and Nutifood have reported an increase in their turnover by 30 percent during the last two months, under the Government price subsidized program. Nguyen Dang Thao, director of Co-op Mart supermarket on Cong Quynh Street in District 1 stated that the two companies showed marginally high profits whilst foreign brands [...]

Australia places priority on economic ties with Vietnam Posted: 05 Aug 2011 09:56 AM PDT Australia's Trade Minister Craig Emerson has named Vietnam among several Asian countries as his priority in fostering economic relations. The Australian Broadcasting Corporation (ABC) on August 4 cited the minister as saying that he would be putting most of his efforts into developing relations with China, India, Indonesia, the Republic of Korea, Japan, Vietnam and [...]

Jan-Jul seafood exports up almost 25%, exceed $3 bln Posted: 05 Aug 2011 09:55 AM PDT Vietnam posted its January-July export revenue from aqua-products at US$3.1 billion, rising by 24.8 percent over the same period last year, according to VASEP — the country’s Association of Seafood Exporters and Producers. A VASEP update report said July's aqua-product export revenue was about US$500 million. The report said shipments to large markets have increased [...]

Foreign investors more cautious about property market Posted: 05 Aug 2011 09:52 AM PDT Experts at real estate consulting companies are of the opinion that foreign companies are taking more careful steps towards Vietnam's real estate market Experts at real estate consulting companies are of the opinion that foreign companies are taking more careful steps towards Vietnam's real estate market due to its current limbo, though some of them [...]

Discount rates may force funds to divest Posted: 05 Aug 2011 09:51 AM PDT Viet Nam’s stock market was attractive for investment in terms of valuation, but high discount rates at many investment funds hindered these funds from raising capital overseas, said Dragon Capital’s General Director Dominic Scriven. Discount rates (the different percentage between market price and net asset value per fund certificate) of four listed fund certificates, including [...]

SSC proposes to delay soes’ capital withdrawal plans Posted: 05 Aug 2011 09:51 AM PDT The State Securities Commission (SSC) and the National Finance Supervision Council have proposed to delay the plans by state owned enterprises (SOEs) to withdraw capital from enterprises, The State Securities Commission (SSC) and the National Finance Supervision Council have proposed to delay the plans by state owned enterprises (SOEs) to withdraw capital from enterprises, stressing [...]

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